Since the invention of blockchain technology, the speed of digital innovation worldwide has increased significantly. From cryptocurrency to smart contracts, NFTs and decentralized applications (DApps), this technology has changed the definition of internet. The special thing is that these innovations have turned the Internet out of the control of the Central Authority and turned towards the community ownership.
This idea is a new and innovative project, Dymention. This project is specially designed for developers who want to create their own blockchain based applications without more technical hassle.
Dymension: cosmos-based layer-1 blockchain
Dymension is a Layer-1 Blockchain based on COSMOS generation. Its main objective is to develop and support such decentralized applications that are scalable, modular and interopeable. The most unique feature of this blockchain is RolppS, ie application-specific chain, which any developer can launch very easily. In addition to dymention on cosmos generation, Cosmos Hub (ATOM) is also working, if you want to know that What is cosmos hub (atom)So click on this link.
What are rollapps?
Rolapps are the most important feature of Dymension. You can call them tiny-blockchains, which are designed for a particular application. Each rolapp is an independent chain, but is given by security and network support dymension.
This means that developers do not have to worry about complex tasks like CONSENSUS SETUP, Validator Control and Community Safety, they can focus on their application development. For example, a gaming company can create a separate rolppp for its game while no finance can create Rolapp related to the Defi.
Interoperability: Seemless Connection Between Rolapps
Another major feature of dymension is its interoperability, ie transactions of data and assets between different chains. Dymension supports IBC (Inter-Blockchain Conversation) Protocol of Cosmos Ecosystem. With the help of which different rollapps can interact with each other. Also, the transfer of liquidity is without any obstruction and the entire network is connected to each other.
For example, the user of a gaming rolapp can easily transfer tokens from a Defi rolapp. This makes the dymension not only scalable but also emerges as a future-Reddy platform.
Use and importance of dym token
Dym token has a very important role in Dymention Ecosystem. Dym Token is the native token of this network and has many major uses:
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STKING: To run rollapps and keep the network safe Dym token Worth Have to do stake. This increases both participation and security in the network.
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Governance: Dym token holder can participate in voting on the network updates, rules and policy changes. This means that the community gets participation in the future direction of the network.
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Rewards and safety: Validators get rewards in Dym Token instead of keeping network secure. Apart from this, Rolpp builders also have to be kept as dym collateral so that the transactions are fast and relative.
Why is Dymension special?
Now the question arises that when there are so many Layer-1 and Layer-2 blockchain in the market, how is the dymension different from them:
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Modular design: Due to the separate chain for each application, the pressure of network traffic does not increase and scalability continues.
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Developer-PLEASANT: Any developer can create a blockchain application without worry about technical backnd support.
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COSMOS and IBC Support: Due to IBC, dymention makes multichain time possible through interoperability.
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Incomes alternatives: Users and developers also get an opportunity to earn a sustainable ecosystem through stacking and transaction fees.
Future of dymension
Dymension is currently in its early stage, but its technological base and developer-centric vision make it a strong player in the web3 world. Concepts such as rolapps can change the DApps Construction in future in the same way that WordPress changed the website development.
Conclusion
Dymension is a Layer-1 Challenge that is opening new avenues in the world of Web3. The use of its rolapps type, cosmos-based interoperability and dym token makes it a powerful and flexible platform. If Dymention is able to make its vision a complete form, then it has the ability to become a WordPress of the Web3 World. In the coming time, as the web3 technology will be mainstream, the role of such projects will become even more important.
Also read:Kevin O’Lary said, Crypto will become 12th sector of economy
